| 4H | 1D | 1W | |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Buy | Sell |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇘ | ⇗ | ⇘ |
Since the middle of August, the USD/DKK exchange rate has been trading upwards within a rising wedge pattern.
As apparent on the chart, the currency pair has pierced the lower pattern line. Given that the pair is pressured by the 55-, 100– and 200-period SMAs in the 6.3300 area, it is likely that some downside potential could prevail in the market. The pair could target the monthly S1 at 6.2289.
However, if the predetermined pattern holds, it is likely that the exchange rate could continue to trade upwards within it in the medium term.